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Pluto Launches Crypto App

Pluto Exchange announced the launch of India's first mobile application for transacting in the virtual currency. At a press conference, Pluto Exchange Founder and chief executive Bharat Verma said that his company is all set to launch the country's first app-based wallet that enables bitcoin transactions using a mobile number."The Pluto Exchange mobile app offers a solution to the coordination problem between payment processors, financial gateways and banks," Verma said.

"All other apps already in the market do transactions using bitcoin addresses, which are long and prone to error while copying. Pluto Exchange will change this scenario by enabling transactions using mobile numbers only, which are just 10 digits," he said.

Until now using a four-digit personal identification number (PIN), users could buy, sell, store and spend bitcoins via a mobile number, Verma added. Elaborating, he said the app would permit a range of transactions, including payments, remittances, business-to-bussiness commerce, supply chain finance, asset management and trading.